Tsinghua Holdings' subsidiary Tongfang Co., Ltd. aims to grow into a global high-tech company by creating an ecosystem that combines industries, finance, and incubation, the company announced on June 25.

The announcement was made during a special industry development forum held in Beijing to celebrate the 20th anniversary of the company's founding in June 1997.

Tongfang Co., Ltd. holds its 20th anniversary and industry development forum in Beijing on June 25. 

Created to help bring to market the research achievements made by scientists at Tsinghua University, Tongfang's success in nurturing a string of companies has helped its assets grow from 280 million yuan ($41.2 million) in 1997 to 57 billion yuan in 2017.

These companies have become leaders in their fields, such as Nuctech, a security scanning equipment manufacturer; Tongfang Guoxin Electronics, an electronic components maker; Tongfang Knowledge Network Technology Group, the biggest database construction and service group in China; and Tongfang Technovator, a solution provider for building energy consumption reduction. They are now successful independent companies worth hundreds of millions of dollars in their own right.

Tongfang now covers a very broad range of industries and has a high level of vertical integration for many strategically important sectors, allowing it to provide support to emerging Chinese high-tech companies, according to Huang Yu, Tongfang's vice-chairman and president.

Huang Yu, vice-chairman and president of Tongfang, delivers a speech at the forum. 

According to Huang, the company will optimize and reorganize resources in its eight sectors in the future. These are commercial and consumer electronics, cloud computing and big data, public security, military equipment, lighting, energy efficiency, environmental conservation, and health care.

Tongfang will also support the continual development of technology industries with the help of venture capital, Huang added.